Dycom Industries Reports Strong Fiscal 2025 Q2 Results
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Fiscal 2025 Second Quarter Highlights
Contract revenues reached $1.203 billion, demonstrating a 15.5% increase. Non-GAAP Adjusted EBITDA was $158.3 million, representing 13.2% of contract revenues. The company reported a Non-GAAP Adjusted Net Income of $72.5 million, equivalent to $2.46 per diluted common share.
Quarter Overview
During the quarter, contract revenues increased by 15.5% compared to the same period last year, rising from $1.042 billion. When adjusted for acquisitions, organic contract revenue showed a 9.2% growth.
Financial Metrics
Non-GAAP Adjusted EBITDA improved to $158.3 million, compared to $130.8 million, or 12.6% of contract revenues, in the previous year. The overall net income rose to $68.4 million, which aggregates to $2.32 per diluted share from $60.2 million or $2.03 per share in the equivalent quarter of the previous year.
Year-to-Date Highlights
For the six months ending in July, contract revenues amounted to $2.345 billion, a 12.4% uptick relative to the same period last year. Organic contract revenues were up by 5.8% after excluding $137.2 million from acquired businesses.
Strategic Moves
The company has also expanded its credit agreement, enhancing term loan capacity and extending maturity to January 2029, positioning itself for future financial stability.
Future Outlook
Moving into the upcoming quarter ending October, Dycom anticipates a mid- to high single-digit percentage increase in total contract revenues compared to the last year's quarter. The latter is expected to include approximately $75 million of revenues from acquisitions, up from the $45.2 million recorded previously.
Use of Non-GAAP Financial Measures
Dycom emphasizes the use of Non-GAAP financial measures for a clearer comparison of its operational performance. These include Non-GAAP Organic Contract Revenues and Non-GAAP Adjusted EBITDA, crucial for assessing ongoing operational results.
Contact Information
For further inquiries,
Callie Tomasso,
Vice President Investor Relations,
Email: investorrelations@dycomind.com,
Phone: (561) 627-7171.
Frequently Asked Questions
What were the key financial highlights for Dycom Industries in Q2 fiscal 2025?
Dycom Industries reported contract revenues of $1.203 billion, a 15.5% increase, and a Non-GAAP Adjusted Net Income of $72.5 million, or $2.46 per diluted share.
How did organic revenue perform in comparison to last year?
Organic contract revenues increased 9.2% compared to the same quarter last year, reflecting strong underlying growth.
What strategic moves did Dycom make recently?
The company amended its credit agreement to expand term loan capacity and extend maturity, enhancing its financial flexibility.
What is Dycom's outlook for the upcoming fiscal quarter?
Dycom anticipates a mid- to high single-digit growth in contract revenues compared to the previous year's quarter, factoring in additional revenues from acquisitions.
How does Dycom utilize Non-GAAP measures in its reporting?
Dycom uses Non-GAAP financial measures to provide a clearer picture of its operational performance and facilitate comparisons with prior periods.
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